It was a little scary to cut right into the pretty design, but I figured I really had nothing to lose. It was actually a little cathartic. Also, hemming the bottom was easy peasy - and trust me, I'm no seamstress! I think the most I've done is make some pillow covers and sewn up the side seams on a few tops to take them in.
I think it turned out great!
Moral of the Story: Don't fret! If your favorite blouse, skirt, sweater gets shrunk in the wash, or gets paint on it, or tears right down the front...you can still enjoy it! Make a pillow slipcover or applique. Rip up the beautiful fabric and create fabric rosettes. Cut out pieces and use in a pretty quilt. Turn a shrunken blouse into a fashionable jacket!